Marina Adelaide hits the market

Marina Adelaide, South Australia’s only fully integrated marine precinct, has hit the market offering a rare opportunity to invest in the rapidly growing area of Largs North.

Situated just 17 kilometres from the Adelaide CBD, the marina covers 133,610 square metres with a further 31,663 square metres available for development.

CBRE’s Ben Younger and Philip Rundle are in charge of the sales campaign.

Mr Rundle said Marina Adelaide represented a significant investment opportunity which would appeal to both interstate and offshore investors.

The leasehold offers buyers the option to purchase as either a whole or partial sale with the added opportunity to acquire up to a 50% equity share in Marina Adelaide Pty Ltd.

The state-of-the-art ISO 14001 certified marina boasts refueling facilities, extensive boat storage, shipyard facilities and boat ramps, as well as commercial, retail and industrial precincts.

While state government body Renewal SA own the freehold, Marina Adelaide Pty Ltd have negotiated a one-off upfront sum for a leasehold term in the land for a 75-year term, meaning no annual rental payments are required for the entire 75-year period since 2007.

Younger said the property still has development opportunities available with current approvals for the development of dry stack facilities, boat storage, office, retail, cafe and service buildings.

With Adelaide Marina’s close proximity to the inner-harbour area of Port Adelaide, currently undergoing a major makeover in the $1.5 billion Newport Quays project, the area is expected to become home to nearly 4,000 new residents earmarking the marina precinct for significant future growth.

Expressions of interest close on May 23.